Question

Marcel owns 12 percent of Steam Forge Company (SFC). SFC trades on the Toronto Stock Exchange and has been the subject of a takeover attempt by Iron Forge Company (IFC). Assuming that Marcel is the only minority shareholder who will not co-operate with IFC, determine the minimum level of ownership IFC needs in order to do the following. a. Call a special meeting of the shareholders.b. Replace the board of directors.c. Replace the firm’s management.d. Force Marcel to sell at the takeover price.e. Win a vote on amalgamation.f. Make a takeover bid.